Jio Platforms IPO fully subscribed, attracts 3.16x demand on day one

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Investors bid for 62.4 crore shares in total. QIBs, allocated 4.9 crore, bid for 46.15 crore—about 9x demand

By Ashokamithran T

Updated - October 21, 2026 at 09:55 PM. | Mumbai

Jio Platform’s ₹30,213 crore initial public offering (IPO) was fully subscribed within 100 minutes of opening on day one. The issue attracted 3.16 times the 19.75 crore shares allocated for all investors.

Investors bid for 62.4 crore shares in all. Qualified Institutional Buyers, who were allocated 4.9 crore shares bid for 46.15 crore shares, a whopping 9 times higher demand than expected. Domestic Financial Institutions (DFI) bid the most among institutional buyers, demanding 25.9 crore shares.

The second most prominent demand came from Foreign Institutional Investors (FII), who bid for 16.18 crore shares. Mutual funds demanded the least bidding just 3.18 crore shares. Other QIBs bid for 86.8 lakh shares.

Bidding details

Retail investors bid for 73 per cent of the 8.5 crore shares on day 1. Non-institutional investors bid for 6.12 crore shares, which is 1.68 times the 3.6 crore shares allocated for the category. Non-institutional individuals bid for 2.4 crore shares.

The company’s valuation is about $108 billion which is more than facebook’s IPO valuation of $104 billion. This puts Jio in the same league as global technology companies. The $3.2 billion IPO will be the third largest public issue after SpaceX with $85.7 billion and SK Hynix with $26.5 billion.

“This will be the fifth largest in terms of market cap in the world post listing. This would mean 6 months post listing, the stock will enter the derivatives market and MSCI Index. So allocation will naturally come in,” said Deven Choksey , MD, DRChoksey Finserv.

Published on October 21, 2026

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